FYI: Despite all the evidence demonstrating that the vast majority of actively managed mutual funds underperform appropriate risk-adjusted benchmarks, the vast majority of mutual fund investors allocate their savings to active funds that seek to beat the market through some combination of fundamental and/or technical analysis. This is one of the great anomalies in finance. Why do investors choose to engage in practices that are highly likely to destroy value?
Regards,
Ted
http://mutualfunds.com/expert-analysis/factors-matter-to-investors-explaining-mutual-fund-flows/
